'Drawback rates to be revised soon for handicraft exports'

Top Stories

»	India poised to become 3rd-largest economy by 2030, overtaking Germany: Hardeep Puri
»	India's industrial production registers 1.2 per cent growth in May
»	Govt committed to building safe and smart energy future: Minister
»	QCOs benefit MSMEs by enhancing product quality, consumer satisfaction: Piyush Goyal
»	Stock market opens higher as Trump indicates ‘great’ trade deal with India

SME Times News Bureau | 25 Mar, 2013
The rate of input tax refund (duty drawback rate) for metal-based handicrafts products likely to be revised shortly for 2013-14, informed the nodal agency for promotion of exports of handicrafts products.

"The Drawback Committee, headed by Planning Commission member Saumitra Chaudhuri, constituted to examine and recommend revision in drawback rates of various products, visited Moradabad on Sunday and assured exporters that the handicrafts sector should get the due it deserves," said Export Promotion Council for Handicrafts (EPCH) in a press release on Sunday.

"The drawback committee was full of appreciation for the satisfactory and efficient working of the handicrafts units in the region of Moradabad. On conclusion of the visit, the committee felt that the handicrafts sector is an employment generative sector and it should get the due it deserves," said Arvind Vadhera, Chairman, EPCH.

He expressed gratitude towards the drawback committee for their visit and said, "I hope this visit will pave the way for upward revision of the drawback rates."

The Drawback Committee appointed by the Government of India visited Moradabad on Sunday to understand and see the manufacturing process of various handicrafts items produced in the region.

The Committee visited a few representative units manufacturing different types of handicrafts. The visiting drawback committee was headed by Dr. Saumitra Chaudhuri, Member Planning Commission and Chairman Drawback Committee who has a very wide experience and continues to be member of the Economic Advisory Council to the Prime Minister.

Other members of the committee included S.B. Mohapatra, Secretary (Retired) to the Govt. of India, T.R. Rustagi, Chief Commissioner (Retired), Customs and Central Excise, Gautam Ray, Chief Commissioner (Retired) Customs and Central Excise.

The committee was given a very warm and rousing reception by the exporters of handicrafts based in Moradabad region.

EPCH is also preparing cost data required for fixation of drawback rates through experts employed by EPCH. The cost sheet based on the data thus collected by expert of EPCH will be submitted and presented in due course before the drawback committee for their consideration.

Rakesh Kumar, Executive Director, EPCH gave a snap shot of Indian handicrafts sector and its strengths in the world market. He also placed before the committee the challenges faced by the handicrafts sector.

The Executive Director of EPCH expressed satisfaction over the visit and said, "this visit will help in the better understanding of the handicrafts processes adopted by the Moradabad exporters and would help the committee decide the best possible rates for the sector."